Lyle P. Schertz

Events of the past two years have made food an increasingly worrisome item in household budgets and in the budgets of nations. In early 1974, food prices to the American consumer were 25 percent greater than two years earlier. This reflected dramatic increases in farm beef prices, while farm corn prices were double and wheat prices triple those of early 1972. Clearly something new has happened to a food market which has historically fed Americans well and for a uniquely small proportion of their income.